Axis bank will raise Rs 11,626 crore from institutional investors including Bain Capital by divesting 9 per cent stake, which will bolster its capital and help boost its lending growth.

Indian shares opened higher on Monday with the BSE benchmark Sensex rising as much as 70 points to 33,385 and the Nifty50 index gaining as much as 12 points to 10,334.15 in the opening deals. However, gains were not sustained as heavy weights like ONGC, L&T, Coal India fell.

Axis Bank was the top gainer in Nifty, up nearly 4 per cent. The private sector lender will raise Rs 11,626 crore from institutional investors including Bain Capital by divesting 9 per cent stake, which will bolster its capital and help boost its lending growth.

Mahindra & Mahindra, SBI, HUL, NTPC were the other prominent gainer in the Nifty rising between 0.9-2 per cent.

Meanwhile, Idea Cellular shares traded 1.44 per cent lower at Rs 95.60. The company in a release to exchanges said that its board has approved sale of its standalone tower business held by its wholly-owned subsidiary, Idea Cellular Infrastructure Services, to ATC Telecom Infrastructure Pvt. Ltd for Rs 4,000 crore.

This will help in reducing the debt of the company. However, this news failed to boost its shares as the company reported widening of losses in the September quarter.

Elsewhere, other Asian shares were mostly in green except Nikkei, which was down 0.53 per cent. Hang Seng traded 0.26 per cent higher while China’s Shanghai Composite was up 0.30 per cent.US indices except Nasdaq ended on lower on Friday.

As of 9.35 am, Sensex traded 81 points lower at 33,233.91 while Nifty was down 36.60 points at 10,285.15. L&T, Coal India, Indiabulls Housing, BPCL and ONGC were the top five losers in Nifty.